Azercell significantly increases net profit in 2018

Business

12:00 | 28.03.2019

Azercell significantly increases net profit in 2018

Azercell LLC, a mobile operator in Azerbaijan, completed 2018 with a net profit of 100.2 million manat, Trendinforms referring to the company's financial report.

For comparison, the company completed 2017 with significant losses of 19.4 million manats.

According to 2018 report, revenues increased by 2.4 percent, and reached 421.2 million manats. On the other hand, expenditures decreased by 27.9 percent, and amounted to 286.2 million manats.

The company's assets have significantly increased. In 2018, assets increased by 12.6 percent, and reached 1.031 billion manats. In particular, total capital increased by 12.8 percent and amounted to 934.7 million manats. In this regard, the company's liabilities increased by 10.8 percent, and reached 97.1 million manats. Authorized capital remained unchanged - 42.08 million manats.

By the end of 2018, the operator had invested $59.5 million in the development of its network, thanks to which the total investment of the company over the past 22 years exceeded $1.527 billion.

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